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Some clear examples in developing countries such as Mexico point out a major flaw in the welfare schemes. Too often the focus is on affordability, assuming that those at the bottom of the pyramid would be most concerned about prices, and would not care for looks or tastes. But that is not true, as evidenced through their choice of glasses or cell phones in several markets. Thus, some key tactics have been identified that will help companies market better to consumers near the bottom of the pyramid. One of them is to use the right words based around profession such as farmers, artisans or weavers, rather than the broad term- ‘poor’. Another point is that aesthetics do matter as shown by the Atlanta- Business innovations must focus on design so that humble households can be decorated. based Jaipur Rugs. Quality too matters, even at this level. Low prices do not necessarily end up as winning marketing pitch, unless the product or service is of use. Consumer engagement need not be high risk at this level. The mind set of marketers thus needs a sea change.

Source:https://www.strategy-business.com/blog/Designing-for-economic-inclusion?gko=a2806

Uploaded Date:11 May 2019

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